Wednesday, August 3, 2016

Southwestern Illinois College rating downgraded by Moody's - Ruth de Jauregui, Southwest Metro

While the college remains dedicated to the residents within the boundaries of the current Class I Belleville Junior College District 522, the state's ongoing budget crisis has affected a number of community college districts. An Aa rating is still relatively good, but the qualifier has dropped from the middle to low in the rating category. In addition, Moody's has assigned the college a negative outlook. "Despite the State of Illinois' unprecedented year-long delay in approving a full higher education budget, the credit quality of rated Illinois community colleges remains strong due to their sound reserves and diverse revenue streams,” Moody’s said in its report. “However, the state's fiscal challenges have taken a toll, weakening colleges' financial positions and leaving them vulnerable to further state aid delays and potential increases in pension costs.”

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